Bitcoin treasury pioneer MicroStrategy rebrands with a new name: Strategy

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Bitcoin treasury pioneer MicroStrategy rebrands with a new name: Strategy

MicroStrategy , the software company turned “bitcoin development” firm unveiled a new name and logo ahead of its fourth-quarter earnings report. Going forward, the bitcoin proxy will now be called Strategy, the company said in a press release Wednesday. The revamp comes with a new bitcoin logo and orange brand color, as well as an online merchandise store. A spokesperson for Strategy did not immediately respond to a request for comment. Michael Saylor, the co-founder and executive chairman, is expected to discuss the rebrand on the company’s earnings call Wednesday evening. Strategy first launched as a provider of enterprise software. Last year, the company said it would shift its focus and brand to “bitcoin development.” The firm employed an aggressive bitcoin-buying strategy in 2020, and its shares have since primarily traded as a proxy for the crypto’s price. In the past year, Strategy became more aggressive in its approach, raising billions of dollars through the ***** of convertible bonds for the sole purpose of buying more bitcoin. Investors compared Strategy to meme stocks following the election, as the company piled into bitcoin on a weekly basis even as the flagship cryptocurrency hit record after record. Since President Donald Trump won the election, bitcoin has surged nearly 40%, while Strategy shares have popped 50%. Strategy currently holds 471,107 bitcoins on its balance sheet. It’s the largest corporate holder of the cryptocurrency in the world. Shares of Strategy were last lower by roughly 2% in afternoon trading.

MicroStrategy founder Michael Saylor speaks at the Bitcoin 2021 Conference in Miami on June 4, 2021.

CFOTO | Nurphoto | Getty Images

MicroStrategy, the software company turned “bitcoin development” firm unveiled a new name and logo ahead of its fourth-quarter earnings report.

Going forward, the bitcoin proxy will now be called Strategy, the company said in a

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Wednesday. The revamp comes with a new bitcoin logo and orange brand color, as well as an online merchandise store.

A spokesperson for Strategy did not immediately respond to a request for comment. Michael Saylor, the co-founder and executive chairman, is expected to discuss the rebrand on the company’s earnings call Wednesday evening.

Strategy first launched as a provider of enterprise software. Last year, the company said it would shift its focus and brand to “bitcoin development.” The firm employed an aggressive bitcoin-buying strategy in 2020, and its shares have since primarily traded as a proxy for the crypto’s price. In the past year, Strategy became more aggressive in its approach, raising billions of dollars through

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for the sole purpose of buying more bitcoin.

Investors compared Strategy to meme stocks following the election, as the company piled into bitcoin on a weekly basis even as the flagship cryptocurrency hit record after record. Since President Donald Trump won the election, bitcoin has surged nearly 40%, while Strategy shares have popped 50%.

Strategy currently holds 471,107 bitcoins on its balance sheet. It’s the largest corporate holder of the cryptocurrency in the world.

Shares of Strategy were last lower by roughly 2% in afternoon trading.

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